A RESOLUTION AUTHORIZING THE TOWN MANAGER TO SEEK FINANCING FOR VEHICLE REPLACEMENT PURCHASES FOR THE 2005-2006 FISCAL YEAR (2006-02-27/R-4)

A RESOLUTION AUTHORIZING THE TOWN MANAGER TO SEEK FINANCING FOR VEHICLE REPLACEMENT PURCHASES FOR THE 2005-2006 FISCAL YEAR (2006-02-27/R-4)

WHEREAS, the Town of Chapel Hill has developed a vehicle replacement plan to set forth a process for the purchasing and financing of Town vehicles; and

WHEREAS, the Town of Chapel Hill currently has police cruisers and other vehicles that are scheduled for replacement in accordance with this plan; and

WHEREAS, funds were budgeted as a part of the 2005-06 adopted budget for this purpose;

NOW, THEREFORE, BE IT RESOLVED by the Council of the Town of Chapel Hill that the Council authorizes the Town Manager to seek proposals from financial institutions for the financing of three-year vehicles totaling $196,000 and seven-year vehicles totaling $1,599,500 as set forth in Attachment 1 during fiscal year 2005-06.

This the 27^th day of February, 2006.